Saregama acquires majority stake in Pocket Aces for Rs 127.47 crore

New Delhi: Saregama India has acquired a majority stake in Pocket Aces for Rs 127.47 crore. 

With this, Saregama aims to deepen its foothold in the digital content and influencer management space.

The acquisition involves Saregama purchasing 270,427 securities in Pocket Aces, increasing its ownership to 90.37%. 

This follows an earlier investment in 2023, when Saregama initially secured a 51.8% stake in Pocket Aces for Rs 174 crore, with a commitment to acquire additional shares over time. 

The latest transaction represents the second tranche of this phased takeover, bringing the total investment in Pocket Aces to over Rs 300 crore.

The turnover of Pocket Aces in FY2024 was Rs 88.59 crore. 

The company operates channels such as FilterCopy, Nutshell, and Gobble, as well as its talent management arm, Clout.

The full acquisition of Pocket Aces is expected to be completed in the coming months.